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ACACIA RESEARCH CORP（ACTG）与PDF SOLUTIONS INC（PDFS）财务数据对比。点击上方公司名可切换其他公司
PDF SOLUTIONS INC的季度营收约是ACACIA RESEARCH CORP的1.2倍（$62.4M vs $50.1M），ACACIA RESEARCH CORP净利率更高（6.8% vs -0.1%，领先6.9%），PDF SOLUTIONS INC同比增速更快（24.6% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 22.9%）
槐亚研究公司是一家总部位于纽约市的美国上市企业，在科技、能源以及工业制造领域开展业务收购与运营工作。该公司与控股股东斯塔博德价值投资合伙企业保持战略伙伴关系，这家企业在业内常被归类为专利流氓。
PDF Solutions Inc是一家总部位于美国加利福尼亚州圣克拉拉的跨国企业，主营软件业务与工程技术服务，目前在纳斯达克交易所挂牌上市，股票代码为PDFS。
ACTG vs PDFS — 直观对比
营收规模更大
PDFS
是对方的1.2倍
$50.1M
营收增速更快
PDFS
高出22.0%
2.6%
净利率更高
ACTG
高出6.9%
-0.1%
两年增速更快
ACTG
近两年复合增速
22.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $62.4M |
| 净利润 | $3.4M | $-48.0K |
| 毛利率 | 12.8% | 72.9% |
| 营业利润率 | -26.1% | 5.5% |
| 净利率 | 6.8% | -0.1% |
| 营收同比 | 2.6% | 24.6% |
| 净利润同比 | 125.5% | -108.9% |
| 每股收益（稀释后） | $0.03 | $0.00 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ACTGPDFS
| Q4 25 | $50.1M | $62.4M | ||
| Q3 25 | $59.4M | $57.1M | ||
| Q2 25 | $51.2M | $51.7M | ||
| Q1 25 | $124.4M | $47.8M | ||
| Q4 24 | $48.8M | $50.1M | ||
| Q3 24 | $23.3M | $46.4M | ||
| Q2 24 | $25.8M | $41.7M | ||
| Q1 24 | $24.3M | $41.3M |
净利润ACTGPDFS
| Q4 25 | $3.4M | $-48.0K | ||
| Q3 25 | $-2.7M | $1.3M | ||
| Q2 25 | $-3.3M | $1.1M | ||
| Q1 25 | $24.3M | $-3.0M | ||
| Q4 24 | $-13.4M | $539.0K | ||
| Q3 24 | $-14.0M | $2.2M | ||
| Q2 24 | $-8.4M | $1.7M | ||
| Q1 24 | $-186.0K | $-393.0K |
毛利率ACTGPDFS
| Q4 25 | 12.8% | 72.9% | ||
| Q3 25 | 21.2% | 72.3% | ||
| Q2 25 | 12.8% | 71.2% | ||
| Q1 25 | 47.4% | 72.9% | ||
| Q4 24 | 17.6% | 68.3% | ||
| Q3 24 | 10.1% | 73.1% | ||
| Q2 24 | 26.2% | 70.6% | ||
| Q1 24 | 49.2% | 67.3% |
营业利润率ACTGPDFS
| Q4 25 | -26.1% | 5.5% | ||
| Q3 25 | -10.8% | 8.5% | ||
| Q2 25 | -24.2% | 2.2% | ||
| Q1 25 | 30.8% | -7.4% | ||
| Q4 24 | -32.4% | 1.0% | ||
| Q3 24 | -44.1% | 4.6% | ||
| Q2 24 | -18.4% | 0.6% | ||
| Q1 24 | -8.6% | -4.7% |
净利率ACTGPDFS
| Q4 25 | 6.8% | -0.1% | ||
| Q3 25 | -4.6% | 2.3% | ||
| Q2 25 | -6.4% | 2.2% | ||
| Q1 25 | 19.5% | -6.3% | ||
| Q4 24 | -27.5% | 1.1% | ||
| Q3 24 | -60.0% | 4.8% | ||
| Q2 24 | -32.7% | 4.1% | ||
| Q1 24 | -0.8% | -1.0% |
每股收益（稀释后）ACTGPDFS
| Q4 25 | $0.03 | $0.00 | ||
| Q3 25 | $-0.03 | $0.03 | ||
| Q2 25 | $-0.03 | $0.03 | ||
| Q1 25 | $0.25 | $-0.08 | ||
| Q4 24 | $-0.14 | $0.01 | ||
| Q3 24 | $-0.14 | $0.06 | ||
| Q2 24 | $-0.08 | $0.04 | ||
| Q1 24 | $0.00 | $-0.01 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $306.7M | $42.2M |
| 总债务越低越好 | $91.9M | $67.0M |
| 股东权益账面价值 | $543.5M | $271.0M |
| 总资产 | $771.0M | $418.7M |
| 负债/权益比越低杠杆越低 | 0.17× | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资ACTGPDFS
| Q4 25 | $306.7M | $42.2M | ||
| Q3 25 | $301.8M | $35.9M | ||
| Q2 25 | $316.7M | $40.4M | ||
| Q1 25 | $272.0M | $54.1M | ||
| Q4 24 | $273.9M | $114.9M | ||
| Q3 24 | $410.9M | $120.2M | ||
| Q2 24 | $441.9M | $117.9M | ||
| Q1 24 | $498.4M | $122.9M |
总债务ACTGPDFS
| Q4 25 | $91.9M | $67.0M | ||
| Q3 25 | — | $67.6M | ||
| Q2 25 | — | $68.1M | ||
| Q1 25 | — | $68.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ACTGPDFS
| Q4 25 | $543.5M | $271.0M | ||
| Q3 25 | $537.6M | $264.4M | ||
| Q2 25 | $538.6M | $257.5M | ||
| Q1 25 | $540.2M | $249.0M | ||
| Q4 24 | $514.8M | $246.0M | ||
| Q3 24 | $540.2M | $240.5M | ||
| Q2 24 | $560.7M | $232.2M | ||
| Q1 24 | $568.3M | $225.4M |
总资产ACTGPDFS
| Q4 25 | $771.0M | $418.7M | ||
| Q3 25 | $768.9M | $406.4M | ||
| Q2 25 | $775.5M | $391.1M | ||
| Q1 25 | $801.6M | $390.0M | ||
| Q4 24 | $756.4M | $315.3M | ||
| Q3 24 | $707.6M | $307.4M | ||
| Q2 24 | $753.6M | $298.0M | ||
| Q1 24 | $631.7M | $286.8M |
负债/权益比ACTGPDFS
| Q4 25 | 0.17× | 0.25× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $75.2M | $17.3M |
| 自由现金流经营现金流 - 资本支出 | — | $7.5M |
| 自由现金流率自由现金流/营收 | — | 12.1% |
| 资本支出强度资本支出/营收 | — | 15.7% |
| 现金转化率经营现金流/净利润 | 22.01× | — |
| 过去12个月自由现金流最近4个季度 | — | $-8.6M |
8季度趋势，按日历期对齐
经营现金流ACTGPDFS
| Q4 25 | $75.2M | $17.3M | ||
| Q3 25 | $9.5M | $3.3M | ||
| Q2 25 | $50.1M | $-5.2M | ||
| Q1 25 | $2.4M | $8.6M | ||
| Q4 24 | $50.1M | $1.6M | ||
| Q3 24 | $-593.0K | $9.3M | ||
| Q2 24 | $16.1M | $684.0K | ||
| Q1 24 | $54.8M | $-1.9M |
自由现金流ACTGPDFS
| Q4 25 | — | $7.5M | ||
| Q3 25 | — | $-2.9M | ||
| Q2 25 | — | $-13.8M | ||
| Q1 25 | $335.0K | $535.0K | ||
| Q4 24 | $-98.5M | $-4.0M | ||
| Q3 24 | $-2.8M | $5.1M | ||
| Q2 24 | $-126.7M | $-4.6M | ||
| Q1 24 | $54.6M | $-3.9M |
自由现金流率ACTGPDFS
| Q4 25 | — | 12.1% | ||
| Q3 25 | — | -5.1% | ||
| Q2 25 | — | -26.6% | ||
| Q1 25 | 0.3% | 1.1% | ||
| Q4 24 | -201.8% | -8.0% | ||
| Q3 24 | -12.1% | 11.0% | ||
| Q2 24 | -490.5% | -11.1% | ||
| Q1 24 | 224.4% | -9.4% |
资本支出强度ACTGPDFS
| Q4 25 | — | 15.7% | ||
| Q3 25 | — | 10.8% | ||
| Q2 25 | — | 16.5% | ||
| Q1 25 | 1.7% | 17.0% | ||
| Q4 24 | 304.4% | 11.3% | ||
| Q3 24 | 9.6% | 9.0% | ||
| Q2 24 | 553.0% | 12.8% | ||
| Q1 24 | 1.1% | 4.9% |
现金转化率ACTGPDFS
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | -4.55× | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | 2.98× | ||
| Q3 24 | — | 4.20× | ||
| Q2 24 | — | 0.40× | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
PDFS
| Volumebased | $38.0M | 61% |
| Other | $24.4M | 39% |
